Money Guy Show Low Income, Late Start: What Should I Do?
Feb 10, 2025
Dive into practical advice for those feeling financially behind, especially at 32 with $40k invested. Discover a wealth multiplier tool to boost your savings perspective. Enjoy a mix of humor as comedian anecdotes blend with solid retirement strategies. Explore the hilarious debate of sweet vs. savory foods, while uncovering unique vibe in everyday choices. Finally, navigate the complexities of student loans against retirement savings, revealing strategies for prioritizing your financial goals.
AI Snips
Chapters
Books
Transcript
Episode notes
Check Your Progress
- Use the wealth multiplier tool at moneyguy.com/resource to assess if you are truly behind on retirement savings.
- Multiply your current investments by the wealth multiplier to see your projected retirement savings.
Ahead of the Curve
- The average American starts investing at 33, so starting at 32 is already ahead of the curve.
- Saving 25% of gross income, including employer match, by 32 is a strong financial position.
Golden Handcuffs Dilemma
- Evaluate your career satisfaction and fulfillment alongside financial benefits when considering leaving a job.
- Create a plan with best-case, reasonable, and worst-case scenarios before making career changes.
